The World Oil and Gas Corporation Consortium Interested in Collaborating with Pertamina to Build Refineries
Energy companies namely Litasco SA-Luk Oil and Energen Global DMCC as well as national companies in the Satria Group flag, expressed their interest in investing in projects that are being carried out by Pertamina in Indonesia. One of them is an investment to build an oil refinery.
Litasco SA-Luk Oil
"According to the information we got, Pertamina has canceled a cooperation contract with one of the global companies for the development of a new Bontang Grassroot Refinery in East Kalimantan. For this reason, we are willing to explore the possibility of replacing Pertamina's previous partner position, "said Energen Country Representative, Bayu Kristanto.
Bayu said Indonesia is very prone to energy crises. With relatively small reserves, Indonesia must buy crude or refined products in large quantities.
"And with limited refinery capacity, of course, we cannot buy a lot of oil by utilizing the low oil prices as current conditions. That way the construction of new refineries is very urgent, in addition to being able to utilize it when the price of oil is low, it is also for national stock security, "he explained.
He warned that Litasco and Energen were not new players in the energy sector. Step two of the big companies are already well-known energy business people around the world. Litasco even has an office in Singapore, which means that Litasco understands very well the problem of the construction of an Indonesian oil refinery.
"The current oil processing capacity in Indonesian refineries is only 1 million barrels per day with oil production of only around 650 boepd. This figure is not enough to meet the national needs of around 1.4 million barrels per day. For this reason, the Consortium is ready to work with Pertamina to meet these needs, of course, with the target price of refinery products that are more efficient if given the trust of Pertamina and the Indonesian government, "he said,
Investors, of course, understand that the largest markets are in East Java (East Java) and West Java (West Java) or Java Island. However, investors are still trying to understand and study the location of refinery development plans that have been studied by Pertamina and the Government of Indonesia.
"What is certain is that investors will carry out all the trust given by Pertamina and the Government of Indonesia in a professional manner. How can the needs of both parties be met properly, "he said.
BNI, BRI, Mandiri, and BTN
Bayu ensures that the business run by the consortium optimizes funding through a sharing or cooperation system. Either it involves syndication of the national banking network, namely through government-owned banks such as BNI, BRI, Mandiri, and BTN that can participate, as well as private banks such as BCA and other large banks.
Bank Centra Asia (BCA
"Litasco and Energen will also use the strength of their international network to collaborate with the Indonesian government, especially Pertamina," he said.
Bayu guaranteed that if Pertamina and the Government of Indonesia provided space for the consortium to participate in the role of meeting national oil needs, Indonesia would no longer need to import or reduce imports as the president complained.
Bayu hopes that the Refinery Investment Principle Agreement (RIPA) between the consortium and Pertamina can be realized soon. He guaranteed to maximize the use of domestic power. Is that human resources and other resources.
"Satria Group and Pertamina certainly understand and understand how to use potential local workers rather than those from other countries. I believe Satria Group will conduct business as usual on this large project, "Bayu said.
Investor Daily, Page-9, Friday, March 20, 2020
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